IFG Advisory LLC grew its holdings in AbbVie Inc (NYSE:ABBV) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,479 shares of the company’s stock after acquiring an additional 328 shares during the period. IFG Advisory LLC’s holdings in AbbVie were worth $1,271,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. Prime Capital Investment Advisors LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $27,000. Weaver Consulting Group purchased a new stake in shares of AbbVie during the 1st quarter worth $25,000. Arbor Wealth Management LLC purchased a new stake in shares of AbbVie during the 2nd quarter worth $28,000. Horrell Capital Management Inc. purchased a new stake in shares of AbbVie during the 2nd quarter worth $33,000. Finally, Capital Financial Planning LLC purchased a new stake in shares of AbbVie during the 4th quarter worth $41,000. Institutional investors and hedge funds own 70.03% of the company’s stock.
In other news, SVP Jeffrey Ryan Stewart purchased 15,552 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $64.44 per share, for a total transaction of $1,002,170.88. Following the completion of the purchase, the senior vice president now directly owns 65,304 shares in the company, valued at approximately $4,208,189.76. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roxanne S. Austin purchased 11,500 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were purchased at an average price of $67.50 per share, for a total transaction of $776,250.00. Following the completion of the purchase, the director now owns 52,114 shares of the company’s stock, valued at $3,517,695. The disclosure for this purchase can be found here. Insiders bought 152,452 shares of company stock valued at $10,128,541 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.
AbbVie (NYSE:ABBV) last announced its earnings results on Friday, July 26th. The company reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.05. AbbVie had a net margin of 12.62% and a negative return on equity of 182.70%. The business had revenue of $8.26 billion during the quarter, compared to analysts’ expectations of $8.09 billion. During the same period in the prior year, the company earned $2.00 earnings per share. The business’s revenue was down .3% compared to the same quarter last year. On average, sell-side analysts forecast that AbbVie Inc will post 8.88 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, July 15th were issued a $1.07 dividend. The ex-dividend date was Friday, July 12th. This represents a $4.28 dividend on an annualized basis and a dividend yield of 6.39%. AbbVie’s payout ratio is 54.11%.
Several research firms have recently issued reports on ABBV. Wolfe Research raised shares of AbbVie from an “underperform” rating to a “peer perform” rating in a research report on Thursday, June 27th. Piper Jaffray Companies raised shares of AbbVie from a “neutral” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Tuesday. Svb Leerink raised shares of AbbVie from a “market perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research report on Wednesday, June 26th. Citigroup reaffirmed a “hold” rating on shares of AbbVie in a research report on Wednesday, June 26th. Finally, Goldman Sachs Group began coverage on shares of AbbVie in a research report on Tuesday, May 28th. They set a “neutral” rating and a $84.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $92.05.
AbbVie Inc discovers, develops, manufactures, and sells pharmaceutical products in the United States, Japan, Germany, Canada, Italy, Spain, the Netherlands, the United Kingdom, Brazil, and internationally. The company offers HUMIRA, a therapy administered as an injection for autoimmune and intestinal Behçet's diseases; IMBRUVICA to treat adult patients with chronic lymphocytic leukemia (CLL), small lymphocytic lymphoma (SLL), mantle cell lymphoma, waldenström's macroglobulinemia, marginal zone lymphoma, and chronic graft versus host disease; VENCLEXTA, a BCL-2 inhibitor used to treat adults with CLL or SLL; VIEKIRA PAK, an interferon-free therapy to treat adults with genotype 1 chronic hepatitis C virus (HCV); TECHNIVIE to treat adults with genotype 4 HCV infection; and MAVYRET to treat patients with chronic HCV genotype 1-6 infection.
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